TAILIEUCHUNG - THE POLITICAL ECONOMY OF CENTRAL-BANK INDEPENDENCE

Gender inequality retards economic growth and poverty reduc- tion. This is a key conclusion of a recent World Bank Policy Research Report, Engendering Development—Through Gender Equality in Rights, Resources, and Voice, which considers the links among gender equali- ty, development, and public policy. 2 As this report makes clear, there is growing evidence that several aspects of gender relations—the gen- der-based division of labor, disparities between males and females in power and resources, and gender biases in rights and entitlements— act to undermine economic growth and reduce the well-being of men, women, and children. Gender-based divisions of labor and gender inequalities also contribute to poverty. In the remainder of this section, we. | SPECIAL PAPERS IN INTERNATIONAL ECONOMICS No. 19 May 1996 THE POLITICAL ECONOMY OF CENTRAL-BANK INDEPENDENCE SYLVESTER . EIJFFINGER AND JAKOB DE HAAN INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY PRINCETON NEW JERSEY SPECIAL PAPERS IN INTERNATIONAL ECONOMICS Special Papers in International Economics are published by the International Finance Section of the Department of Economics of Princeton University. Although the Section sponsors the publications the authors are free to develop their topics as they wish. The Section welcomes the submission of manuscripts for publication in this and its other series. Please see the Notice to Contributors at the back of this Special Paper. The authors of this Special Paper are Sylvester . Eijffinger and Jakob De Haan. Professor Eijffinger is Professor of Economics at the College of Europe Bruges Humboldt University of Berlin and Tilburg University and a Fellow of the Center for Economic Research in Tilburg. He has been a Visiting Scholar at the Deutsche Bundesbank the Bank of Japan the Banque de France the Bank of England and the Federal Reserve System. Professor De Haan is Jean Monnet Professor of European Economic Integration at the University of Groningen. He has written extensively about the political economy of monetary and fiscal policy. PETER B. KENEN Director International Finance Section SPECIAL PAPERS IN INTERNATIONAL ECONOMICS No. 19 May 1996 THE POLITICAL ECONOMY OF CENTRAL-BANK INDEPENDENCE SYLVESTER . EIJFFINGER AND JAKOB DE HAAN INTERNATIONAL FINANCE SECTION DEPARTMENT OF ECONOMICS PRINCETON UNIVERSITY PRINCETON NEW .

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